European Economic News

Belgium's economy grew at a stable rate in the second quarter, preliminary estimates from the National Bank of Belgium revealed Friday.
Gross domestic product rose 0.4 percent sequentially, same as in the first quarter, which was revised from 0.3 percent. A year ago, growth was just 0.1 percent....

The Swiss National Bank posted a loss in the first half of the year largely caused by declines in the foreign currency positions.
The SNB logged a loss of CHF 50.1 billion in the first six months of 2015 compared to a profit of about CHF 16 billion last year. In the second quarter, loss totaled CHF...

Eurozone inflation remained stable in July and the unemployment rate held steady at the lowest level seen since early 2012 during June, data from Eurostat showed Friday. Inflation in the currency bloc remained stable at 0.2 percent in July, flash data showed today. Inflation remained in the positive zone for the third straight month and matched economists' expectations.

Russia's central bank cut its key interest rate for the fifth time this year, citing the prospect of significant cooling in the economy despite a moderate increase in inflation risks.
The Bank of Russia Board of Directors decided to reduce the key rate to 11.00 percent from 11.50 percent. The decision...

Industrial output prices in Cyprus declined at a stable pace in June, figures from the Statistical Service of the Republic of Cyprus showed on Friday.
The industrial output price index dropped 5.2 percent annually in June, the same rate of decline in the previous month. In April, output prices had...

Italy's consumer price inflation held steady in July, preliminary figures from the statistical office Istat showed Friday.
The consumer price index rose 0.2 percent year-over-year in July, the same rate of increase as in June. It was the third successive monthly climb.
On a monthly basis, consumer...

Greece's retail sales increased in May after falling in the previous month, preliminary figures from the Hellenic Statistical Authority showed Friday.
The volume of retail trade grew 4.2 percent annually in May, following a 1.8 percent decrease in April, which was revised down from 1.9 percent. In...

Spain's current account balance turned to a surplus in May from a deficit in the previous year, figures from Bank of Spain showed Friday.
The current account balance showed a surplus of EUR 1.2 billion in May versus a deficit of EUR 0.3 billion in the corresponding month last year.
The surplus...

The euro area unemployment rate remained unchanged in June at the lowest level seen since early 2012, Eurostat reported Friday.
The jobless rate held steady at 11.1 percent in June, unchanged from May. This was the lowest rate recorded in the euro area since March 2012. The rate was forecast to...

Italy's unemployment rate increased unexpectedly in June, the statistical office Istat revealed Friday.
The jobless rate rose to a seasonally adjusted 12.7 percent from 12.5 percent in the previous month. It was forecast to fall to 12.3 percent in June.
The number of unemployed totaled 3.233 million...

Eurozone inflation remained stable at 0.2 percent in July, flash data from Eurostat showed Friday.
Inflation has stayed in positive territory for the third straight month and July's rate matched economists' expectations.
Inflation is well below the European Central Bank's target of below, but...

Norway's unemployment rate increased more-than-expected in July, data from the Labour and Welfare Administration or NAV revealed Friday.
The unemployment rate rose to 3.1 percent in July from 2.8 percent in the previous month. Economists had expected the rate to climb to 3.0 percent.
In the corresponding...

French consumer spending increased for the third straight month in June at the fastest pace in five months, largely led by robust food consumption, the statistical office Insee reported Friday.
Consumer spending rose 0.4 percent month-on-month in June, while economists had expected a 0.5 percent increase....

The eurocoin indicator, which measures the current economic situation in the euro area, increased for the eighth consecutive month in July, though slightly, a survey by the Bank of Italy and the Centre for Economic Policy Research showed Monday.
The eurocoin indicator rose slightly to 0.41 in July...